BankNewport in Newport, Rhode Island (RI)
Overview, Financial Summary, Detailed Financial Reports, Branches


BankNewport - Overview

  • General
  • FDIC Certificate #: 18129
    Status: Active
    Federal Reserve ID: 546003
    Bank Holding Company (Regulatory Top Holder): Oceanpoint Financial Partners, Mhc (RSSDID: 3297481, Location: Newport, RI)
    Date Established: January 01, 1819
    WWW: http://www.banknewport.com
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 13 (Domestic: 13, Interstate: No)
    OTS Docket #: 7941
    FDIC's unique #: 12050
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: January 02, 1960
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 10 Washington Square, Newport, RI 2840
    County: Newport
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: South Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $1,098.1 mil
    Equity capital: $105.2 mil
    Deposits held in domestic offices: $885.1 mil
    Return on assets (ROA): 0.47% ($5.2 mil)
    Quarterly return on assets: 0.37% ($4.1 mil)
    Return on Equity (ROE): 4.84% ($5.1 mil)
    Quarterly return on equity: 3.74% ($3.9 mil)
    Net income: $5.1 mil
    Quarterly Net income: $1.0 mil
    Pretax return on assets: 0.66% ($7,247.7 mil)
    Quarterly Pretax return on assets: 0.50% ($5,490.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 259Total employees (full-time equivalent)
  • $1,098,139Total assets
  • $21,967Cash and due from depository institutions
  • $4,400Interest-bearing balances
  • $271,141Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $737,596Net loans & leases
  • $6,517Loan loss allowance
  • $0Trading account assets
  • $14,716Bank premises and fixed assets
  • $425Other real estate owned
  • $8,503Goodwill and other intangibles
  • $1,098,139Life insurance assets
  • $43,791All other assets
  • $992,915Total liabilities and capital
  • $885,072Total liabilities
  • $760,748Total deposits
  • $885,072Interest-bearing deposits
  • $54Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $93,252Trading liabilities
  • $0Other borrowed funds
  • $14,591Subordinated debt
  • $105,224All other liabilities
  • $105,224Total equity capital
  • $105,224Total bank equity capital
  • $0Perpetual preferred stock
  • $3,000Common stock
  • $86,697Surplus
  • $15,527Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $320Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,272Income earned, not collected on loans
  • $0Earning assets
  • $3,832Long-term assets (5+ years)
  • $1,013,137Average Assets, year-to-date
  • $376,720Average Assets, quarterly
  • $1,082,710Volatile liabilities
  • $1,093,970Insider loans
  • $712,249FHLB advances
  • $1,083,519Loans and leases held for sale
  • $16,366Unused loan commitments
  • $16,366Tier 1 (core) risk-based capital
  • $104,157Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $144,065Restructured Loans and leases
  • $7,861Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $41,998Total interest income
  • $10,727Total interest expense
  • $31,271Net interest income
  • $667Provision for loan and lease losses
  • $12,275Total noninterest income
  • $538Fiduciary activities
  • $2,260Service charges on deposit accounts
  • $0Trading account gains & fees
  • $9,477Additional noninterest income
  • $35,763Total noninterest expense
  • $20,735Salaries and employee benefits
  • $5,642Premises and equipment expense
  • $9,386Additional noninterest expense
  • $7,116Pre-tax net operating income
  • $19Securities gains (losses)
  • $2,007Applicable income taxes
  • $5,128Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,128Net income attributable to bank
  • $0Net charge-offs
  • $5,128Cash dividends
  • -$369Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.18%Yield on earning assets
  • 1.07%Cost of funding earning assets
  • 3.11%Net interest margin
  • 1.22%Noninterest income to earning assets
  • 3.56%Noninterest expense to earning assets
  • 0.47%Net operating income to assets
  • 0.47%Return on assets (ROA)
  • 0.66%Pretax return on assets
  • 4.84%Return on equity (ROE)
  • 4.84%Retained earnings to average equity (YTD only)
  • -0.05%Net charge-offs to loans
  • -180.76%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 81,321Assets per employee
  • 4.24%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.88%Loss allowance to noncurrent loans
  • 103.91%Noncurrent assets plus other real estate owned to assets
  • 0.61%Noncurrent loans to loans
  • 0.84%Net loans and leases to deposits
  • 83.34%Net loans and leases to core deposits
  • 86.47%Equity capital to assets
  • 9.58%Core capital (leverage) ratio
  • 9.61%Tier 1 risk-based capital ratio
  • 14.62%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $1,082,710Average earning assets
  • $105,966Average equity
  • $1,004,974Average loans

Total Fiduciary and Related Assets (December 31, 2007)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $964Managed Assets
  • 1Number of Accounts
  • $964Personal trust and agency accounts
  • $964Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 407Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 13 Rhode Island Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    012050Banknewport10 Washington Square, Newport, RI 2840January 01, 1819Full Service Brick and Mortar
    1243975Middletown Branch528 West Main Road, Middletown, RI 2840November 29, 1961Full Service Brick and Mortar
    2243976Tiverton Branch612 Main Road, Tiverton, RI 2878October 23, 1963Full Service Brick and Mortar
    3243977Portsmouth Branch2628 East Main Street, Portsmouth, RI 2871Febuary 27, 1967Full Service Brick and Mortar
    4243978Stone Bridge Branch1740 Main Road, Tiverton, RI 2878October 15, 1973Full Service Brick and Mortar
    5243979Jamestown Branch25 Conanicus Avenue, Jamestown, RI 2835June 02, 1975Full Service Brick and Mortar
    16243982Wellington Square Branch580 Thames Street, Newport, RI 2840March 24, 1986Full Service Brick and Mortar
    17249312Barrington Branch326 Country Road, Barrington, RI 2806May 01, 1969Full Service Brick and Mortar
    18243983Gooding Plaza Branch6 Gooding Avenue, Bristol, RI 2809December 17, 1998Full Service Brick and Mortar
    19243984Warren Branch323 Market Street, Warren, RI 2885January 25, 1999Full Service Brick and Mortar
    20477932Narragansett Branch90 Point Judith Road, Narragansett, RI 2882June 16, 2008Full Service Brick and Mortar
    21480438North Kingstown Branch1350 Ten Rod Road, North Kingstown, RI 2852October 17, 2007Full Service Brick and Mortar
    22526994East Greenwich Branch1000 Division Street, East Greenwich, RI 2818November 15, 2011Full Service Brick and Mortar

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